Earnings

Veea Third-Quarter Sales Fall to $72,135

The Tip Desk · November 13, 2026 · 3 min read

Gross profit compressed to $60,135 as the edge-computing company posted a $3.7 million net loss.

Veea Inc. (VEEA), an edge-computing platform company, reported net sales of $72,135 for the three months ended September 30, 2026, down 50% from $144,926 a year earlier.

The sequential drop was steeper. Sales were $176,221 in the three months ended June 30, 2026. Gross profit compressed to $60,135 from $137,383 in the prior quarter. Cost of goods sold fell to $12,000 from $38,838.

The company said revenue has been principally earned from paid pilots for its VeeaHub devices. It said it expects revenue to grow over the next several quarters through sales of hardware, licenses and subscriptions, and listed five market opportunities including digital equity, digital healthcare, energy and sustainability, fixed-wireless-5G convergence, and smart retail and warehouses.

Loss from operations narrowed to $4,016,626 from $7,144,859 in the prior quarter. Net loss was $3,659,587, versus net income of $1,375,294 a year earlier.

General and administrative expense, net, dropped to $3,220,467 from $6,759,222 in the prior quarter. The company attributed the year-over-year decrease, from approximately $4.5 million in the three months ended September 30, 2025, primarily to reductions in personnel-related costs, including salaries, payroll taxes, benefits and stock-based compensation, and to lower operating costs from vendor contract renegotiations and other cost-reduction initiatives implemented during the third quarter of 2026.

Product development expense rose to $418,165 from $94,220 in the prior quarter. The company said the year-over-year increase was due to increased internal development costs. Sales and marketing expense increased to $204,509 from $147,954.

Interest expense rose to $669,401 from $610,324 in the prior quarter. Other income (expense) totaled $357,039, including an $821,318 gain on the change in fair value of warrant liability and a $297,000 gain on the change in fair value of the earn-out share liability.

On July 30, 2026, the board approved the termination of Randal Stephenson as chief financial officer and senior vice president, without cause, effective July 31, 2026. Greg Deisher, then chief operating officer and executive vice president, was appointed acting chief financial officer the same day and continues as chief operating officer. On October 8, 2026, Helder F. Antunes resigned from the board as part of an initiative to streamline its composition; he continues as executive vice president and chief revenue officer.

On August 13, 2026, Veea entered an at-the-market issuance sales agreement with Roth Capital Partners and filed a prospectus supplement covering up to $4,353,000 of common stock. As of November 5, 2026, the company had received approximately $1.2 million in proceeds from issuing 270,852 shares under the agreement.

On September 14, 2026, the company announced a non-binding term sheet with NovaGen Group B.V. regarding a potential business combination and a related potential investment by GeoNova Capital. As of the report date, no definitive agreement had been executed.

On November 9, 2026, NLabs made unsecured loans of $400,000 and $200,000 under demand notes bearing 10% interest, payable on the earlier of December 31, 2026 and demand. The company said the proceeds will be used for working capital.